Festival to go ahead in 2012 despite rumours

We have been informed of an order made by the Registrar of Companies on the 17^th January relating to the Community Interest Company’s entry on the Register. This was caused by a delay in submitting accounts.

We can confirm that every step is being taken to regularise the position and that we have today instructed our solicitors to make an immediate application for restoration of the company to the register.

The Festival is, and always has been, a non-profit making venture. Under the Memorandum and Articles of Association any profit is required to be retained in the company. All involved in organising the Festival are volunteers and no salaries or dividends are paid to anyone.

The only liability of the company is a loan granted to the company by one of the directors

It is hoped that this issue will be resolved without delay.